EuroDry (NASDAQ:EDRY) Upgraded to Outperform at Noble Financial

Noble Financial upgraded shares of EuroDry (NASDAQ:EDRY) from a market perform rating to an outperform rating in a research note released on Thursday, Marketbeat reports. The brokerage currently has $23.50 target price on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of EuroDry in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, EuroDry currently has a consensus rating of “Hold” and a consensus price target of $23.50.

EuroDry Stock Performance

Shares of NASDAQ:EDRY opened at $13.64 on Thursday. EuroDry has a 52 week low of $7.60 and a 52 week high of $16.14. The company has a 50-day moving average price of $13.33 and a 200 day moving average price of $12.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.21 and a current ratio of 1.27.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.08). EuroDry had a negative return on equity of 9.87% and a negative net margin of 21.73%.The business had revenue of $14.39 million during the quarter, compared to analysts’ expectations of $14.56 million. As a group, research analysts predict that EuroDry will post -2.84 EPS for the current fiscal year.

EuroDry Company Profile

EuroDry Limited is a Marshall Islands–incorporated shipping company, formed in 2005 and headquartered in Piraeus, Greece. The company is publicly traded on the NASDAQ under the symbol EDRY. Since its inception, EuroDry has focused exclusively on the marine transportation of drybulk commodities and has grown its fleet through a combination of newbuilding contracts and second-hand acquisitions.

As of mid-2024, EuroDry’s operating fleet comprises Capesize, Panamax and Supramax drybulk carriers, collectively providing over one million deadweight tons (dwt) of capacity.